Fund Administration Services - Ascent Fund Administration

NAV Calculation & Portfolio Accounting

Daily, Weekly, Monthly, Quarterly and Annually Net Asset Values reporting options.
Automated trades capture.
Independent Portfolio Verification to ensure accuracy and accountability.
Creation of a funds pricing policy process and maintenance of verification accordingly.
Automation of Performance and Management fees calculation.
Series accounting (Fixed /floating hurdle rate) support.
Equalization (Fixed /floating hurdle rate) support.
Computation of Income and Expense accruals.
Recording and reconciling all corporate actions of portfolio.
Maintenance of book and records.
Correspondence with Fund banks, custodian, brokers, lawyers.
Disbursing fees.
Calculation of Dividend distribution.
Payment of standard non-trading related payments approved by Fund.
Two level of review process for payment release.
Preparation of annual financial statements including audit support.

Investor Services

Maintenance of the Share register.
Processing the Subscription, redemptions, switch, transfers and capital calls in line with Fund’s offering document.
Confirmation of Subscription, redemptions, switch, transfers and capital calls to investor.
AML and World Check screening.
Reporting of Net Asset Values and Fund performance to investors.
Perform periodic risk review AML checks on investors.

Perform periodic risk review AML checks on investors.
Perform Investor risk assessment and maintain investors risk rating record.
Calculation of distribution fees.
Movement of subscription monies to broker account from subscription account once AML completes.
Payments of redemption proceeds in accordance with Offering Memorandum.
Response to investor requests on a timely basis.

FATCA & CRS

Registering the FFIs with the IRS and obtaining the Global Intermediary Identification Number (GIIN).
Fund’s investor identification and classification to be compliant with FATCA and OECD.
Registration of Fund with local tax authorities.
Appointing of FATCA Reporting Officer.
Reporting of FATCA and CRS as per regulatory requirements.

Financial Statement Preparation

Preparation of unaudited financial statements in conformity with relevant accounting standards.
Regulatory reporting support.

Pre-Launch Support

Support and guidance with Fund launch.
Reviewing the Offering documents, subscription & redemption document and other constitutional documents.
Assistance in opening Fund bank accounts.
Guidance in selecting the Lawyers, auditors, tax advisors, banks.
Assistance to set up fund /share class in Bloomberg.
Stock exchange listing (CISX).

US Tax Reporting

K-1 preparation and distribution.
PFIC statements.
Partnership Representative Services.

Shadow NAV

The shadow NAV is the NAV calculation completed in order to verify the official NAV produce by Administrator. It could be completed by the fund manager or it could be outsourced to a specialist service provider.

Some investors require that a fund manager have a proper shadow NAV accounting process in place. The reason is that the official NAV generated by the Fund administrator is error free and reduces the chance of a NAV restatement. By having the Administrator and Shadow NAV Accounting provider proactively engage in independent cross-checking, NAV errors are greatly mitigated and NAV delivery times quickened.

Trust Fund And Partnership Fund Accounting Services

This includes the fund accounting, calculation of the net asset value and performance fees, record keeping, paying of bills, carrying out banking transactions and other services.
Capital calls, Distributions, Partnership Profit and Loss allocation.
Partner’s statement distribution.

Meet Portfolio Objectives While Managing Risk

From outcome-oriented services with the potential to improve operational efficiency, we assist to meet your most complex objectives with our holistic solutions.